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10413 County Road 579 Thonotosassa, FL 33592

3 Beds 1 Baths 1,174 sqft Built 1963

$190,000

List Price

$1,250

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $161.84
  • 2 Days on Market
  • MLS # : T3286765
  • Updated Date : 01/30/2021 at 18:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,174 sqft
  • Baths : 1 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

You will LOVE this 3 bedroom 1 bath home in the heart of Thonotosassa!!! Minutes away from I4 and I75, close to shopping areas, entertainment, the Tampa Airport, Mac Dill AFB, and Beaches. This is the perfect property as it is centrally located in a nice, quiet area. This home could be a great investment opportunity or a great family home offering NO HOA or CDD fees and comes with a home warranty. The huge bonus room could be used as a master bedroom or in law suite as it has its own entrance. Brand new A/C as of 2020 with 10 year warranty, Well pump from 2019, Hot water heater new 2015.

SEE MORE

MARKET HIGHLIGHTS

  • #8 in America's Fastest Growing Cities (Forbes, 2018)
  • Tampa metro employment growth is at 2.6% and predicted to grow at 2.1% in 2019 (USMayors.org, 2018)
  • One of the best cost-friendly American cities to do business (KPMG)
  • Tampa metro contributes to 15.4% of Florida state economy i.e. Gross State Product (USMayors.org, 2018)
  • #2 in Homebuilding Prospects #10 in Overall Real Estate Prospects (Emerging Trends in Real Estate 2019, PWC)
  • 2nd Best City for Young Entrepreneurs (Forbes)
  • Florida state ranks 4th most favorable in the country in State Business Tax Climate Index (Tax Foundation, 2019). Tampa inherits the rank being part of Florida.
  • Tampa's economy is worth over $156 billion in Gross Metro Product and projected to grow to $165 billion in 2019 (USMayors.org, 2018)
  • Headquarters to several Fortune 1000 companies: Publix Super Markets, Tech Data, Jabil Circuit, WellCare Health Plans, Raymond James Financial, Bloomin’ Brands, HSN, and TECO Energy (Fortune, 2018)

PRICE & RENT TRENDS

Neighborhood: Greater Thonotosassa

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $85k358k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Greater Thonotosassa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8781651

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Mcdonald Elementary School Primary Regular 575 52 1
Burnett Middle School Middle Regular 869 62 3
Armwood High School High Regular 1,809 104 3

Mcdonald Elementary School

  • Education Level: Primary
  • # of students: 575
  • # of teachers: 52
1
GreatSchools Rating

Burnett Middle School

  • Education Level: Middle
  • # of students: 869
  • # of teachers: 62
3
GreatSchools Rating

Armwood High School

  • Education Level: High
  • # of students: 1,809
  • # of teachers: 104
3
GreatSchools Rating
 

$171,000$209,000$190,000

PURCHASE PRICE

$1,125$1,375$1,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,250
EXPENSES Loan Payment -$660
Property Tax -$246
Property Insurance -$104
Property Management Fees -$129
CASH FLOW
$111

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$190,000

PROJECTED PRICE

$1,250

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 9.8%
Maintenance Year (1-5) 8.00%
Vacancy 5.27%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$56,100

INVESTMENT

$56,100

Down Payment
$47,500
Rehab Estimate
$5,750
Closing Costs
$2,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$660

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $47,500
Loan Amount $142,500
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$24,267

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,250

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,127

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,350
$1,350
RENT COMPS ANALYSIS
  • 10413 County Road 579 Thonotosassa, FL 1
    • 3 beds 2 baths ∙ 1,174 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,174 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.06
    •  
  • 12223 Kelly Ln Thonotosassa, FL 2
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1972
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.96
    •  
PROPERTY LISTING DETAILS
Jada Uludag
1.407.755.7337
Keller Williams Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3286765
Last Updated: 01/30/2021
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